Reeds (OTCMKTS:REED) Stock Price Down 6.4% – Here’s What Happened

Reeds, Inc. (OTCMKTS:REED)’s share price was down 6.4% on Wednesday . The stock traded as low as $2.18 and last traded at $2.49. Approximately 19,962 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 38,581 shares. The stock had previously closed at $2.66.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners upgraded Reeds to a “strong-buy” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Buy” and a consensus target price of $10.50.

Reeds Stock Performance

The firm has a market capitalization of $22.28 million, a P/E ratio of -0.34 and a beta of 0.62. The firm has a 50 day simple moving average of $3.63 and a two-hundred day simple moving average of $5.31.

Reeds (OTCMKTS:REED) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter. The firm had revenue of $7.03 million during the quarter. Reeds had a negative return on equity of 358.36% and a negative net margin of 42.48%. Sell-side analysts anticipate that Reeds, Inc. will post -1.22 earnings per share for the current year.

About Reeds

Reed’s, Inc is a U.S.-based beverage company specializing in the development, production and distribution of craft soft drinks, mixers and functional beverages that feature real ginger and other natural ingredients. The company’s flagship Reed’s Ginger Brew line includes Original, Extra and Stronger formulations, each brewed using fresh ginger root to deliver a balance of spicy flavor and perceived health benefits. Reed’s also markets a portfolio of craft sodas under the Virgil’s brand, offering varieties such as Root Beer, Craft Cola and Vanilla Cream Soda without artificial sweeteners or preservatives.

Founded in 1989 by Christopher J.